Albertans have higher average incomes, which means there’s a higher level of premiums paid into the fund.
canada pension plan costs
It’s close, but assets do exceed liabilities.
Alberta’s $27.9 billion net contribution over this period is almost four times greater than Ontario’s.
Mandatory CPP contributions from working Canadians will increase steadily between January 2019 and 2025.
CPP expansion will mean several thousands of dollars more in annual contributions from working Canadians.
Despite its reputation, the cost of the CPP is actually above the average for comparable plans based in Ontario.
The Canadian retirement income system already provides Canadians with an adequate standard of living in retirement.